Short Haul Trucking Insurance in Vermont
What is Short Haul Trucking Insurance?
Commercial trucks are among the largest vehicles driven on Vermont’s roads, and an accident involving a commercial truck can result in devastating loss. Short haul trucking insurance doesn’t prevent accidents from occurring, but it offers companies in the industry financial protection should their equipment be involved in a covered accident. Of course, policies usually cover a range of non-accident incidents too.
Short haul trucking insurance is a specific type of commercial vehicle insurance that’s crafted to meet the insurance needs of local and regional trucking companies. These policies take into account the distances that these companies cover, the equipment they operate and the risks they face to provide robust protection.
What Businesses in Vermont Need Short Haul Truck Insurance?
Generally speaking, most local and regional trucking companies in Vermont ought to carry short haul truck insurance. Companies that operate vehicles on public roads are required to have insurance that at least meets the state minimum coverage requirements, and many companies want more protection than is legally required. Short haul truck policies generally offer local and regional companies access to the protections they need in a policy that’s specifically tailored to their work.
As helpful as these policies are for local and regional trucking companies, they normally aren’t sufficient for long-distance trucking companies. Long-distance companies tend to be better off with a long distance truck policy.
Any company that’s unsure whether a short or long haul truck insurance policy is more appropriate for their situation should seek advice from a specialized insurance agent who’s familiar with the nuances of both types of policies.
What Coverages Do Short Haul Truck Insurance Policies Come With?
Short haul truck insurance policies are usually written as package policies that have multiple individual coverages within them. Depending on what a policy’s terms include and what options a company selects, the policy might offer protections like the following:
- Medical Expense Coverage, which may cover medical costs related to a truck driver’s or passenger’s injuries
- Occupational Accident Coverage, which may be needed as a supplement to workers compensation coverage
- Commercial Uninsured and Underinsured Motorist Coverage, which may cover accidents caused by improperly insured drivers
- Physical Damage Coverage, which may cover damage a truck sustains in an accident or other incident
- Freight Coverage, which may cover damage to or loss of cargo that’s being transported
- Non-Owned Trailer Coverage, which may cover trailers a company uses but doesn’t own
- Bobtail Liability Coverage, which may cover tractors when no trailer is attached
- Equipment Coverage, which may cover accessories like belts, chains, tarps, etc.
- Non-Trucking Coverage, which may cover times when a truck is used for personal driving
Occupational accident coverages as often shortened to “OCAC” coverage, and medical expense coverage is also called “medical payments coverage.”
How Much Does Short Haul Truck Insurance Cost?
Insurance companies consider many different factors when setting premiums for short haul truck policies, so policies’ premiums often vary from one policy to the next. Some of the items that can influence how much a particular company pays for coverage include the:
- Types of trucks the company uses
- Age of the company’s equipment
- Number of trucks the company runs
- Number of miles the company’s drivers cover each year
- Driving records of all the company’s drivers
- Kind of goods the company transports
Of course, the coverages, limits and deductibles selected also have a direct impact on price. An independent insurance agent can help companies find out how much insurance will cost them by providing quotes from different insurers that offer this type of commercial truck policy.
How Can Vermont Trucking Companies Get Short Haul Trucking Insurance?
For help finding short haul trucking insurance that meets your Vermont company’s needs, contact the independent insurance agents at T.S. Peck Insurance. Our agents have the ability to show you policies from many insurance companies in the state, and they also have the expertise necessary to help you determine which of the available options is best for your company.